Please Login to view "member only" content

How do I Increase Income and Reduce Expenditure?

1. Check you’re receiving everything you’re entitled to financially as a student

Last year the Student Advice Centre at Staffordshire University found over £1.2 million for students through making them aware of student loan amounts, grants, bursaries, benefits and tax credits that they were entitled to. Don't miss out on claiming money you are entitled to because you weren't aware or you didn't get the correct information.

Check what you're entitled to by finding out "What I can get?"

Find out more about student finance and higher education by using UNIAID'S Knowledge Bank.

2.Find value in your budget

Can you reduce your expenditure in any way? Could you shop at a cheaper supermarket, get the bus instead of a taxi, make instead of buy sandwiches, learn to cook, etc. Get creative and put your thinking cap on when it comes to reviewing how you could save money.

3. “Just another manic Monday” sang the bangles

If you’re thinking of doing some part-time work to top-up your cash, why not see Jobzone – a service operated by the University Careers Service to help students find work whilst studying. Also check out if you should be paying tax?

4. Find a few extra pennies

Thought about any alternative ways to make cash such as filling in on-line surveys or buying goods through greasy palm.

5. Check if you’re getting the cheapest deal

Make sure you're getting the cheapest deals on gas, electricity, water, telephone, internet, etc. Check out our household bills page for top tips as well as the following websites for advice on and links to comparison websites: http://www.moneysavingexpert.com http://money.uk.msn.com and http://www.moneysupermarket.com

Are you getting the best deal on your bank account, savings account, ISA and any credit cards or personal loans that you have. Make sure you choose the right financial products.Check out our list of questions to ask when you're thinking of taking out a savings account or credit.

6. See these tips by students about how they’ve saved money.

Can you put any of our top tips into practice?

7. Can you get any extra money from Trusts and Charities?

If you are in financial difficulty, it may be possible to secure a limited amount of assistance from a relevant trust or charity. Most will only be able to help with small amounts of money to top up existing funding and tend to favour students who are struggling for cash towards the end of their course or those who have had an adverse change in circumstances.

There is a system called Funderfinder which is able to provide you with a list of trusts and charities that may be able to assist you financially. See www.funderfinder.org.uk for further advice about applying to trusts and charities.

There are certain things that it would be worth bearing in mind when applying to trusts and charities...

  1. Plan ahead, check application deadlines and that you fulfil the charity's criteria.
  2. Make sure you apply in the correct way i.e. do they want you to complete an application form or write a letter?
  3. Ensure that each application is tailored to the individual charity's criteria and objectives - using the same information for them all may be quicker, but is likely to cut down your chances of success.
  4. If you are applying to more than one charity, include in your application a statement to this effect and that you will return any surplus raised. Explain clearly why you are applying and why they should consider your application above anyone else's.
  5. Talk to your tutors about any supporting evidence they can provide.
  6. Keep a record of which organisations you have written to and a copy of your applications.

Any assistance offered by charities is discretionary, and therefore even if you fulfil their criteria, there is no guarantee that they will help. Talk to your Department about any other sources of funding previous students have had and see if it is worthwhile trying them. Let us know how successful you have been and which organisations haven't been able to help and why.

8. Finally, try our list of Money Saving Websites

Money Management Sites

Directory of Student Bank Accounts:

http://www.moneyfacts.co.uk/banking/bestbuys/banking_stud_accounts.aspx

Smartphone App

Get the student experience on your phone. Staffordshire University Students' Union presents a handheld guide to your hottest news, photos, videos and events. You'll also find details for a range of clubs and societies you might enjoy.


App Store

Android Market

We Tweet

    Social Media

    Facebook Twitter YouTube

    Your Opinions Count!

    If you have any comments, suggestions, requests or feedback, please visit:

    www.staffsunion.com/feedback